Mortgage Calculator Canada
Calculate your Canadian mortgage payment with CMHC insurance for down payments under 20%, semi-annual compounding, stress test qualification rate, and amortization comparison. All calculations run privately in your browser — no data is shared.
How Canadian Mortgage Payments Work
A Canadian mortgage payment calculator determines your regular payment based on the loan amount, interest rate, and amortization period. Unlike American mortgages that compound monthly, Canadian mortgages use semi-annual compounding as required by the Bank Act. This means the effective monthly rate is calculated as (1 + annual rate / 2)^(1/6) - 1, which produces slightly lower payments compared to monthly compounding at the same nominal rate.
When your down payment is less than 20% of the home price, CMHC mortgage default insurance is mandatory in Canada. The insurance premium ranges from 2.80% to 4.00% of the mortgage amount and is added to your loan principal. Based on 2026 CMHC rates: a 5-9.99% down payment carries a 4.00% premium, 10-14.99% carries 3.10%, and 15-19.99% carries 2.80%. The minimum down payment in Canada is 5% on the first $500,000 and 10% on any portion above $500,000.
Understanding the Stress Test
Since 2018, all Canadian mortgage applicants must qualify at the stress test rate, which is the higher of your contract rate plus 2% or the Bank of Canada qualifying rate of 5.25%. This means even if your actual mortgage rate is 4.50%, you must prove you can afford payments at 6.50%. The stress test applies to all insured and uninsured mortgages at federally regulated lenders. This calculator shows your stress test payment so you can verify your qualification before visiting a lender.
Payment frequency also affects total interest paid. Standard bi-weekly payments divide the monthly payment by two and pay 26 times per year. Accelerated bi-weekly takes the monthly payment, divides by two, and pays that amount 26 times — effectively making one extra monthly payment per year. Accelerated bi-weekly typically shaves 2-3 years off a 25-year amortization and saves thousands in interest.
CMHC Insurance Rates for 2026
CMHC insurance protects the lender if you default on your mortgage. The premium is a one-time cost added to your mortgage principal. Current CMHC premium rates are: 4.00% for down payments of 5% to 9.99%, 3.10% for 10% to 14.99%, and 2.80% for 15% to 19.99%. With 20% or more down, no insurance is required and you can choose amortization periods up to 30 years. Insured mortgages are limited to a maximum 25-year amortization. On a $500,000 home with 5% down ($25,000), the CMHC premium would be $19,000, bringing your total mortgage to $494,000.
All calculations in this tool run entirely in your browser using standard Canadian mortgage math. No financial data is sent to any server. For pre-approval and personalized advice on mortgage products, contact a licensed Canadian mortgage broker.